IVC Wealth Advisors LLC Lowers Stock Position in PepsiCo, Inc. (NASDAQ:PEP)

IVC Wealth Advisors LLC lessened its holdings in PepsiCo, Inc. (NASDAQ:PEP) by 7.2% in the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,077 shares of the company’s stock after selling 393 shares during the quarter. IVC Wealth Advisors LLC’s holdings in PepsiCo were worth $772,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently added to or reduced their stakes in PEP. State Street Corp grew its holdings in shares of PepsiCo by 5.1% during the third quarter. State Street Corp now owns 57,268,030 shares of the company’s stock worth $9,738,429,000 after purchasing an additional 2,775,679 shares in the last quarter. Geode Capital Management LLC increased its stake in shares of PepsiCo by 1.8% in the third quarter. Geode Capital Management LLC now owns 30,497,268 shares of the company’s stock worth $5,170,529,000 after buying an additional 543,558 shares during the period. Charles Schwab Investment Management Inc. raised its stake in shares of PepsiCo by 5.6% during the third quarter. Charles Schwab Investment Management Inc. now owns 21,360,850 shares of the company’s stock valued at $3,632,413,000 after acquiring an additional 1,125,059 shares during the last quarter. Legal & General Group Plc increased its stake in shares of PepsiCo by 7.2% during the second quarter. Legal & General Group Plc now owns 13,547,547 shares of the company’s stock valued at $2,234,400,000 after buying an additional 905,468 shares during the period. Finally, Franklin Resources Inc. raised its position in shares of PepsiCo by 21.1% in the 3rd quarter. Franklin Resources Inc. now owns 13,021,316 shares of the company’s stock worth $2,293,049,000 after acquiring an additional 2,264,445 shares in the last quarter. Institutional investors own 73.07% of the company’s stock.

PepsiCo Stock Performance

Shares of PEP opened at $148.62 on Friday. PepsiCo, Inc. has a 1 year low of $141.51 and a 1 year high of $183.41. The company’s fifty day moving average is $154.40 and its two-hundred day moving average is $165.52. The stock has a market capitalization of $203.91 billion, a P/E ratio of 21.92, a P/E/G ratio of 2.86 and a beta of 0.54. The company has a debt-to-equity ratio of 1.96, a quick ratio of 0.70 and a current ratio of 0.89.

PepsiCo Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, January 6th. Investors of record on Friday, December 6th were issued a dividend of $1.355 per share. The ex-dividend date was Friday, December 6th. This represents a $5.42 annualized dividend and a yield of 3.65%. PepsiCo’s dividend payout ratio is presently 79.94%.

Analysts Set New Price Targets

PEP has been the subject of a number of recent research reports. TD Cowen lowered their price objective on PepsiCo from $183.00 to $160.00 and set a “hold” rating for the company in a research note on Wednesday, January 8th. UBS Group reduced their price target on shares of PepsiCo from $193.00 to $175.00 and set a “buy” rating for the company in a research report on Thursday, January 16th. Bank of America decreased their price target on PepsiCo from $190.00 to $185.00 and set a “buy” rating on the stock in a report on Monday, September 30th. Wells Fargo & Company cut their target price on shares of PepsiCo from $170.00 to $155.00 and set an “equal weight” rating for the company in a report on Tuesday, January 7th. Finally, JPMorgan Chase & Co. dropped their price objective on shares of PepsiCo from $185.00 to $183.00 and set a “neutral” rating for the company in a research note on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $178.20.

About PepsiCo

PepsiCo, Inc engages in the manufacture, marketing, distribution, and sale of various beverages and convenient foods worldwide. The company operates through seven segments: Frito-Lay North America; Quaker Foods North America; PepsiCo Beverages North America; Latin America; Europe; Africa, Middle East and South Asia; and Asia Pacific, Australia and New Zealand and China Region.